Summit Financial Wealth Advisors LLC Buys Shares of 7,155 Akero Therapeutics, Inc. (NASDAQ:AKRO)

Summit Financial Wealth Advisors LLC purchased a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 7,155 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Akero Therapeutics by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock valued at $92,702,000 after buying an additional 584,875 shares during the last quarter. Long Focus Capital Management LLC grew its position in Akero Therapeutics by 119.0% in the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company’s stock valued at $16,882,000 after buying an additional 391,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Akero Therapeutics by 10.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,060,479 shares of the company’s stock valued at $102,569,000 after acquiring an additional 384,555 shares during the period. Perceptive Advisors LLC increased its position in shares of Akero Therapeutics by 8.1% during the 2nd quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock valued at $35,188,000 after purchasing an additional 112,426 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Akero Therapeutics by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company’s stock worth $5,894,000 after acquiring an additional 61,988 shares in the last quarter.

Insider Activity

In other news, CEO Andrew Cheng sold 108,366 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $31.73, for a total transaction of $3,438,453.18. Following the sale, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $19,209,881.41. The trade was a 15.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Catriona Yale sold 2,485 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $27.52, for a total value of $68,387.20. Following the completion of the transaction, the insider now directly owns 75,294 shares of the company’s stock, valued at approximately $2,072,090.88. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 348,248 shares of company stock valued at $10,817,436. 7.94% of the stock is owned by company insiders.

Akero Therapeutics Price Performance

NASDAQ AKRO opened at $31.77 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The firm has a market cap of $2.22 billion, a P/E ratio of -8.47 and a beta of -0.26. The stock’s 50-day moving average is $30.05 and its two-hundred day moving average is $26.10. Akero Therapeutics, Inc. has a fifty-two week low of $15.32 and a fifty-two week high of $37.00.

Akero Therapeutics (NASDAQ:AKRO) last announced its earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, analysts anticipate that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Akero Therapeutics in a research report on Monday, November 18th. Citigroup began coverage on shares of Akero Therapeutics in a report on Monday, November 18th. They set a “buy” rating and a $65.00 price target for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.83.

Akero Therapeutics Profile

Akero Therapeutics, Inc, together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. The company's lead product candidate is efruxifermin (EFX), which is in Phase 3 clinical trials that protects against cellular stress and regulates the metabolism of lipids, carbohydrates, and proteins throughout the body for the treatment of biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH) patients.